The short version
- Australians living overseas can borrow from some lenders, usually with a bigger deposit.
- Foreign buyers need FIRB approval and pay extra state taxes.
- Most foreign buyers can't buy established homes until 31 March 2027.
Who this is for
Non-resident home loans cover Australians living and working overseas, foreign citizens living overseas, and foreign citizens in Australia on a work, student, partner or other temporary visa. Many big lenders don't offer them, so your choice is narrower than for residents.
Australians living overseas
Some lenders lend to Australian citizens working abroad, to buy a home or an investment property, to refinance or to access equity. Expect a bigger deposit, often 20% to 30%, a higher rate than for residents, and checks on your foreign income, which may be converted at a discount.
You don't need Foreign Investment Review Board approval as an Australian citizen.
Foreign buyers
Non-residents who aren't Australian citizens usually need approval from the Foreign Investment Review Board (FIRB) and pay extra state taxes. From 1 April 2025 to 31 March 2027, most foreign buyers can't buy established homes, with some exceptions. New homes and vacant land you build on are generally allowed.
Few lenders lend to foreign buyers. They usually ask for a bigger deposit, often lend for shorter terms, and may only offer principal and interest repayments.
New Zealand citizens are generally treated more like residents. Check the rules for your visa with FIRB and the lender.
Getting help
A mortgage broker who works with expat and non-resident borrowers can tell you which lenders will consider you and help with the paperwork.
Pros
- Expats can buy or invest at home while working abroad.
- Some lenders accept foreign income.
- New homes and land are open to most foreign buyers.
Cons
- Fewer lenders, bigger deposits and higher rates.
- Foreign income may be discounted or converted conservatively.
- Extra taxes and approval fees for foreign buyers.
Alternatives
- Waiting until you return or become a permanent resident, which opens up standard loans.
- Buying with a partner who is an Australian citizen or permanent resident.
- A mortgage broker, who can match you with lenders that suit your situation.
How to apply
Most people get pre-approval for a home loan from overseas before they start making offers, then the full approval once they've found a home.
- Get your documents together. Payslips, two years of tax returns if you're self-employed, bank statements showing your savings, and details of your debts and credit limits.
- Get pre-approval. It tells you how much you can borrow and shows sellers you're serious. It usually lasts three to six months.
- Find the home and sign the contract. The lender then values the property before it gives full approval.
- Settle. Your lender pays the seller, and your repayments start about a month later.
- Have your passport, visa or citizenship proof, overseas payslips and a credit report from your country of residence ready.
What to compare
Start with the rate for your situation: the rate a lender offers depends on whether you'll live in the home or rent it out, how you repay, and the size of your deposit. The comparison above picks each lender's rate for your choices.
Then look past the rate.
- Fees: upfront fees, and annual package fees that often come with an offset account.
- Features: an offset account, redraw, extra repayments and the option to split the loan between fixed and variable.
- The comparison rate, which adds standard fees to the rate for an example loan of $150,000 over 25 years.
- Any cashback, but only after the rate and fees, since a higher rate can cost far more over the life of the loan.